1999, Domino's Pizza, a corporate sponsor of the Washington Redskins (a football team) offered to reduce the price of its medium-size pizza by $1 for every touchdown scored by the Redskins during the previous week.Â Â Until that year, the Redskins weren't scoring many touchdowns.Â Â Much to the surprise of Domino's, in week one of 1999, the Redskins scored six touchdowns.Â Â As a result, the price of Domino's pizzas fell from $8 a pie to $2 a pie the following week.Â Â The quantity of pizzas demanded soared he following week from 1 pie an hour to 100 pies an hour.Â Â What was the price elasticity of demand for Domino's pizza?Â Â
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